European Union To Grant EUR510M Subsidies To Winemakers

Of the total EUR510 million, Spain will receive EUR162 million, France will get EUR111 million, and EUR101 million will be granted to Italy, reports Bloomberg.com.

The other countries to receive subsidies are Portugal, Romania, Bulgaria, Germany, Hungary, Czech Republic, Greece, Austria, Slovenia, Cyprus, Slovakia, Malta and Luxemburg.

The wine producers will get financial support during the 2007-2008 commercial year, which started in August for significant improvements in the field.

Thus, the total value of subsidies granted by the European Union after 1999 reaches EUR3 billion, while boosting financial aids is part of the reforming process of the common agricultural policy proposed by the European Commission.